Jetset Travelworld (JET)

Jetset
shareholders had some relief on Monday, with the travel company’s share price climbing 15.6 per cent. Last calendar year was a disappointing one for the stock, and the share price is still down 36 per cent from 12 months ago. At the company’s annual general meeting in November, Jetset refused to give guidance for the 2011 financial year, telling shareholders they would have to wait for its first-half results in February. Jetset became the country’s third-largest travel company by market value in September when it merged with Stella Travel Services, previously owned by CVC Asia Pacific. In November, Jetset’s new chief executive Peter Lacaze, formerly the boss of Stella, said bookings were a year to 18 months away from reaching pre-global financial crisis levels. Mr Lacaze said that, while international outbound bookings were strong, the domestic market was still a bit choppy.